“We cannot sacrifice what is right for what is expedient.” – RadioMattM

Tuesday, April 20, 2010

The Web Of Corruption

Good news! Goldman Sachs has hired President Obama's lawyer to help in the ongoing civil suit lodged against them by the SEC. Are you kidding me?

The lawyer in question is Obama’s former White House counsel, Gregory Craig. The best news? It's legal!

"A former White House employee cannot appear before any unit of the Executive Office of the President on behalf of any client for 2 years—one year under federal law and another year under the pledge pursuant to the January 2009 ethics E0," said a White House official.

The official also said that the White House had no contact with the SEC on the Goldman Sachs case. "The SEC by law is an independent agency that does not coordinate with the White House any part of their enforcement actions."

I'd laugh if it wasn't so pathetic.

UPDATE: Goldman will have plenty of money to pay Craig. They've just posted 1st quarter earnings of $3.46 billion.

And then there's this:“Goldman wrongly permitted a client that was betting against the mortgage market to heavily influence which mortgage securities to include in an investment portfolio, while telling other investors that the securities were selected by an independent, objective third party,” SEC Enforcement Director Robert Khuzami said in a statement. In other words, Goldman and a hedge fund client put together a ball of sub-prime crap designed to fail and bet against it. Goldman also took out insurance on those same mortgage backed securities from AIG –yes, the same AIG taxpayers bailed out to the tune of $180 billion. Goldman was paid a total of nearly $13 billion from AIG at the direction of Treasury Secretary Tim Geithner.Criminals. Criminals who never seem to wind up in prison where they belong.

I occasionally feel sorry for Obama too, LadyR. On major "issues" he does as he is told.

Not that he isn't a total full-on commie/corporatist/globalist hybrid with a desire to punt the US Constitution, and not that his actions aren't helping to undermine and destroy this country, and not that he isn't financed by criminals - but at the end of the day he is about as stuck as a person can be.